Meeder Asset Management Inc. Sells 17,550 Shares of State Street Co. (NYSE:STT)

Meeder Asset Management Inc. cut its position in shares of State Street Co. (NYSE:STT) by 8.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 191,841 shares of the asset manager’s stock after selling 17,550 shares during the quarter. State Street makes up about 1.3% of Meeder Asset Management Inc.’s investment portfolio, making the stock its 19th largest position. Meeder Asset Management Inc.’s holdings in State Street were worth $18,829,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. AIA Group Ltd raised its stake in shares of State Street by 2.7% during the fourth quarter. AIA Group Ltd now owns 19,948 shares of the asset manager’s stock worth $1,958,000 after acquiring an additional 532 shares in the last quarter. Wellington Management Group LLP raised its position in State Street by 6.3% in the 4th quarter. Wellington Management Group LLP now owns 551,210 shares of the asset manager’s stock worth $54,101,000 after purchasing an additional 32,513 shares during the period. CIBC Private Wealth Group LLC lifted its stake in State Street by 4.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 9,758 shares of the asset manager’s stock worth $954,000 after purchasing an additional 446 shares during the last quarter. Life Planning Partners Inc purchased a new stake in State Street during the fourth quarter valued at about $9,884,000. Finally, RWA Wealth Partners LLC bought a new position in shares of State Street during the fourth quarter valued at about $329,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at State Street

In related news, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the sale, the director now directly owns 100,023 shares of the company’s stock, valued at approximately $10,002,300. This represents a 9.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the transaction, the executive vice president now directly owns 50,816 shares of the company’s stock, valued at $5,054,667.52. This trade represents a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Barclays increased their target price on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Wells Fargo & Company cut their target price on shares of State Street from $118.00 to $113.00 and set an “overweight” rating on the stock in a report on Friday. Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. JPMorgan Chase & Co. raised shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a report on Friday, December 20th. Finally, Morgan Stanley lowered their price objective on shares of State Street from $142.00 to $139.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $101.53.

State Street Trading Down 3.1 %

STT opened at $88.95 on Monday. The stock has a market cap of $25.66 billion, a PE ratio of 10.80, a PEG ratio of 1.11 and a beta of 1.44. The business has a 50 day moving average of $95.35 and a 200-day moving average of $94.56. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT) last announced its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating the consensus estimate of $2.29 by $0.31. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.04 earnings per share. Equities research analysts predict that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s dividend payout ratio (DPR) is presently 36.89%.

State Street Company Profile

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.